Gold Price Holds Near $4,000 as Middle East Tensions and Fed Rate Hike Bets Grow 
China Trade Surplus Hits $125.6 Billion as June Exports, Imports Smash Forecasts 
Australian Business Conditions Hold Steady as Easing Cost Pressures Face New Oil Price Risks 
Asian Stocks Rise as Softer U.S. Inflation Boosts Sentiment Despite Middle East Tensions 
Asian Stocks Slide as Oil Surge, U.S.-Iran Tensions and Fed Rate Bets Weigh on Markets 
South Korea’s KOSPI Enters Bear Market Despite Remaining 2026’s Best-Performing Major Stock Index 
Dollar Eases as Middle East Conflict, Fed Outlook and Japan Pension Policy Drive FX Markets 
Dollar Holds Steady Ahead of U.S. CPI as Oil Surge, Middle East Tensions Keep Markets on Edge 
South Korea Raises Interest Rates to 2.75% as Inflation and Weak Won Drive Tightening 
Oil Prices Surge as U.S.-Iran Conflict Escalates and Strait of Hormuz Risks Grow 
UBS Boosts China Tech Bets, Adds Kuaishou and Meituan to Focus List 
Japanese Yen Holds Steady as Intervention Hopes Grow Ahead of U.S. CPI Data 
Dollar Slides as Softer US Inflation Dims Fed Rate Hike Expectations 
South Korea’s KOSPI Triggers Trading Curb as AI Chip Stock Selloff Deepens 
Singapore GDP Grows 5.7% in Q2 2026 as AI-Driven Manufacturing Boosts Economy 
ECB's Kocher Says No Inflation Spillover Yet From Iran Conflict, Warns Risks Remain 
Asian stock markets declined as growing concerns over the soaring costs of artificial intelligence investment weighed heavily on the technology sector, while U.S. stock futures attempted a modest recovery led by gains in chipmakers. Investor anxiety around AI capital expenditure and valuations has sparked renewed volatility across global markets.
The tech selloff followed earnings from Google parent Alphabet, which reported solid quarterly results but alarmed markets with a projected $175 billion to $185 billion in capital expenditure for the year—far exceeding analyst expectations. Alphabet shares swung sharply in after-hours trading, dropping more than 6% at one stage before recovering to close just 0.4% lower. The scale of AI spending has heightened fears that returns may not justify the massive investments.
Market sentiment has already been fragile after a recent wave of selling triggered by a new legal tool released by Anthropic’s Claude large language model. Since January 28, roughly $830 billion in market value has been erased as investors rotated out of mega-cap tech stocks and into more cyclical sectors amid worries about job disruption and overstretched AI valuations.
Chip stocks delivered mixed signals. Advanced Micro Devices shares plunged 17% overnight after disappointing earnings, adding pressure to the sector. In contrast, Nvidia rose nearly 2% in after-hours trading, buoyed by expectations that rising AI infrastructure spending will boost demand for its chips. That helped lift Nasdaq futures by 0.6% and S&P 500 futures by 0.4%, despite lingering caution.
Across Asia, MSCI’s broad Asia-Pacific index excluding Japan fell 1%. South Korea’s KOSPI dropped 1.7%, Taiwan lost 0.7%, and Japan’s Nikkei ended flat. Chinese blue chips declined 0.7%, while Hong Kong’s Hang Seng slid 0.8%.
Currency markets saw the Japanese yen weaken for a fourth consecutive session ahead of a general election, trading near 156.93 per dollar. U.S. Treasury yields were steady, while oil prices fell after news that the U.S. and Iran would hold talks in Oman. Gold and silver edged higher after a sharp selloff last week, as investors cautiously returned to precious metals.
